CRNO Steel: Introduction
- Cold rolled non-oriented (CRNO) steel is an electrical steel grade. CRNO steel has silicon level of 2% to 3.5% and possesses similar magnetic properties in all directions in plan of the sheet. CRNO steel is primarily used in motors, generators, alternators, ballasts, small transformers, and various other electromagnetic applications.
Key Drivers of Global CRNO Steel Market
- Rapid industrialization and urbanization is a key driver of the CRNO steel market. Significant rise in investment in automobile, aerospace, metalwork, and metal fabrication industries over the last few years has been boosting the demand for CRNO steel. This trend is expected to continue during the forecast period.
- Increase in demand for CRNO steel among end-users such as automobile and electronics industries is anticipated to drive the market. Substantial rise in demand for automobile and home appliances in developing and developed countries around the world is propelling the demand for CRNO steel. This trend is estimated to continue during the forecast period.
Global CRNO Steel Market: Segmentation
- The global CRNO steel market can be segmented based on type, size, and end-user
- In terms of type, the global CRNO steel market can be classified into coils, sheets, and others. In terms of volume, the coils segment is expected expand significantly during the forecast period.
- In terms of size, the global CRNO steel market can be divided into up to 0.35 mm, 0.35 mm to 0.50 mm, 0.50 mm to 0.65 mm, and above 0.65 mm. In terms of volume, 0.35 mm to 0.50 mm and 0.50 mm to 0.65 mm segments are likely to expand at a faster pace in the near future.
- Based on end-user, the global CRNO steel market can be segregated into energy & power, automobile, home appliance, manufacturing, and others. The automobile and manufacturing segments are expected to lead the market due to a significant rise in demand for metalwork in these industries across the globe. This trend is predicated to continue during the forecast period.
Global CRNO Steel Market: Regional Segmentation
- Based on region, the global CRNO steel market can be split into North America, Asia Pacific, Europe, Latin America, and Middle East & Africa
- Asia Pacific is expected to dominate the global CRNO steel market during the forecast period. The market in the region is estimated to expand at a significant pace during the forecast period. This can be ascribed to the rapid industrial development in the region. China, India, Japan, and Singapore are the leading countries in Asia Pacific. China is expected to lead the CRNO steel market in Asia Pacific due to the increase in investments in various end-user industries in the country.
- North America is also expected to account for considerable share of the global CRNO steel market during forecast period. Demand for CRNO steel has been rising in various industries such as automotive, aerospace, and metal fabrication in the region. The U.S. is the one of the leading countries for automobile and home appliances in North America. Thus, demand for CRNO steel is expected to rise in North America during the forecast period.
COVID-19 Impact on CRNO Steel Machine Market
- The COVID-19 pandemic has adversely impacted the global economy due to the stringent lockdowns imposed in all major countries. Investment in development of manufacturing and automobile industries has also been affected by these lockdowns. A few projects have been delayed, while some have been put on hold. However, governments of various countries across the world are easing lockdown restrictions. As a result, investment in manufacturing and automobile industry projects is estimated to rise steadily. This is projected to drive the demand for CRNO steel during the forecast period.
Key Players Operating in the CRNO Steel Market
- JSW
- POSCO Maharashtra Steel Pvt. Ltd
- SAIL
- Tata Steel
- Nomax Electrical Steel Pvt. Ltd.
- POSCO
- thyssenkrupp AG
- JFE Steel Corporation
- NIPPON STEEL CORPORATION
Global CRNO Steel Market: Research Scope
Global CRNO Steel Market, by Type
- Coils
- Sheets
- Others
Global CRNO Steel Market, by Size
- Up To 0.35 mm
- 0.35 mm to 0.50 mm
- 0.50 mm to 0.65 mm
- Above 0.65 mm
Global CRNO Steel Market, by End-user
- Energy & Power
- Automobile
- Home Appliance
- Manufacturing
- Others
The Global CRNO Steel Market, by Region
- North America
- U.S.
- Canada
- Europe
- Germany
- France
- U.K.
- Italy
- Spain
- Russia & CIS
- Rest of Europe
- Asia Pacific
- China
- South Korea
- Japan
- India
- ASEAN
- Rest of Asia Pacific
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Middle East & Africa
- GCC
- South Africa
- Rest of Middle East & Africa
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Europe
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.
